Global Marketing Gaffes: Here are some examples of how companies failed when localizing their business in different countries leading to embarassing results. Braniff International Airlines translated a slogan touting its finely upholstered seats … [Continue reading] about Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Finance and Accounting: Books, Journals and Resources
Best Finance and Accounting: Books, Journals and Resources. Best Finance and Accounting Books Here are the best books on Finance and Accounting that are aimed at undergraduate, graduate and MBA students studying finance and accounting … [Continue reading] about Finance and Accounting: Books, Journals and Resources
Global Retailing
Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by … [Continue reading] about Global Retailing
Global Branding and Glocal Branding Strategies
Branding is about creative a strong perception of a company and its product/services in the minds of the consumers. A truly global brand: meets the wants and needs of a global market is offered in all world regions has the same brand name, and in … [Continue reading] about Global Branding and Glocal Branding Strategies
Economic Integration: Various Levels Explained
In the global landscape, Economic Integration usually can be classified into various additive levels. Regional Economic Integration (Preferential Trade Agreement) The WTO promotes free trade on a global basis, however countries in each of the world’s … [Continue reading] about Economic Integration: Various Levels Explained
Self-Reference Criterion (SRC) Explained
In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen … [Continue reading] about Self-Reference Criterion (SRC) Explained
The EPRG Framework/Model of International Business
EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of … [Continue reading] about The EPRG Framework/Model of International Business
Change Management: Various Models/Theories to manage change better
There are several change management models that help organisations implement change successfully. Here we take a look at the various models and theories to help manage change. Introduction to Change Management Change management refers to changes to … [Continue reading] about Change Management: Various Models/Theories to manage change better
The Rising Power of Emerging Markets
The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, … [Continue reading] about The Rising Power of Emerging Markets
Human Resource Management (HRM): Books, Journals and Resources
Best Human Resource Management (HRM) Books, Journals and Resources. Books Essentials of international human resource management : managing people globally. International human resource management : the transformation of work in a global context. … [Continue reading] about Human Resource Management (HRM): Books, Journals and Resources
Understanding Global Competition and Strategies Moves
Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, … [Continue reading] about Understanding Global Competition and Strategies Moves
The 4 Vs of Operations Management Explained
In Operations Management, the 4Vs refer to the four dimensions used to assess operations processes. Typology of Operations: 4Vs Operations can be categorised into four dimensions, referred to as The 4Vs typology. These four dimensions are Volume, … [Continue reading] about The 4 Vs of Operations Management Explained
Bottom of the Pyramid (BOP) Markets
Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should … [Continue reading] about Bottom of the Pyramid (BOP) Markets
Global Advertising: Breaking Down Borders
Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target … [Continue reading] about Global Advertising: Breaking Down Borders
Global Marketing: Definition, Scope, Strategies, Examples
In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While … [Continue reading] about Global Marketing: Definition, Scope, Strategies, Examples
Marketing Environment: Understanding the internal and external environment
Marketing operates in a complex and changing environment. The marketing environment is the environment that a business operates in (Whalley 2010, p. 50). It involves the actors and forces outside marketing that affect marketing management’s ability … [Continue reading] about Marketing Environment: Understanding the internal and external environment
Product Adaptation and Standardization
Every business needs product/services that it can sell to potential customers. While firms would prefer to have standardized products that they can sell over the world, there are various factors that compel firms to adapt their products. In general, … [Continue reading] about Product Adaptation and Standardization
Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
Product is the first element of the marketing mix, and developing a product strategy requires coordinated decisions on product mixes, product lines, brands and packaging and labelling. In planning its market offering, marketers need to think through … [Continue reading] about Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
Organizational Structures for Global Marketing
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a … [Continue reading] about Organizational Structures for Global Marketing
Decision-Making Matrix (Pugh Matrix)
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped … [Continue reading] about Decision-Making Matrix (Pugh Matrix)
Global Market Segmentation: How firms assess and select markets
Global Market Segmentation: Here's how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. … [Continue reading] about Global Market Segmentation: How firms assess and select markets
Human Resource Management (HRM): Definitions, Concepts
The success of businesses depends a lot on the workforce. A motivated and skilled workforce can do wonders to the growth of the company. However, there are many things that play a part in hiring people, keeping the employees happy and satisfied … [Continue reading] about Human Resource Management (HRM): Definitions, Concepts
Market Entry Modes in Global Marketing: Expansion Strategies
Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan … [Continue reading] about Market Entry Modes in Global Marketing: Expansion Strategies
International Marketing: Scope, Strategies, Examples
International marketing refers to the activities related to the sale of goods and services of one country in other countries. While international trade is about commerce between countries, international marketing is about promotion of products and … [Continue reading] about International Marketing: Scope, Strategies, Examples
Standardisation vs Adaptation (Glocalization) in International Marketing
Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be "glocal" with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has … [Continue reading] about Standardisation vs Adaptation (Glocalization) in International Marketing
Internationalization: Definition, Models, Barriers
Internationalization is the process of expanding business operations beyond domestic boundaries to international markets using various market entry modes. Let's understand the motives behind a company’s decision to compete in global markets, and the … [Continue reading] about Internationalization: Definition, Models, Barriers
Understanding Free Trade: Definition, Pros, and Cons
Put simply, Free trade is international trade where there are no government policies restricting the import and export of goods and services. While economists consider this as the best approach to maintain a healthy global economy, this is more of a … [Continue reading] about Understanding Free Trade: Definition, Pros, and Cons
Organization Culture: Importance, factors and how it can be changed
Organizational culture refers to things such as uniformity in work practices, working style, employee motivation levels, sense of belonging, etc. within the company. Culture is also something that takes times to build and also cannot be changed … [Continue reading] about Organization Culture: Importance, factors and how it can be changed
Leadership (Organizational Behavior)
The communities where we live and work are facing complex challenges such as climate change, economic uncertainty, income inequality, multicultural relations, geopolitical unrest and other seemingly uncontrollable forces. People are stressed, … [Continue reading] about Leadership (Organizational Behavior)
Netflix: Various Strategies
Various strategies (innovation, growth) adopted by Netflix to become the largest streaming service provider in the world. About Netflix Netflix, the world's largest online streaming services provider, serves a diverse subscriber base globally. Its … [Continue reading] about Netflix: Various Strategies
Kotter’s 8-Step Change Model Explained
Kotter's 8-step change model is a change management model that lays down the process for organizations to efficiently implement a new change initiative. Introduction to Kotter's Change Model Dr. John Kotter had first introduced the model in his book … [Continue reading] about Kotter’s 8-Step Change Model Explained
Special Economic Zone (SEZ): Case Studies
A special economic zone (SEZ) is an area within a country that has business-friendly trade and business laws and is subjected to different economic regulations from the rest of the country. SEZs are set up to boost economic activity, promote exports, … [Continue reading] about Special Economic Zone (SEZ): Case Studies
Comparative Advantage trade theory
Comparative Cost Advantage is a situation in which a country, individual, company or region can produce a good at a lower opportunity cost than a competitor. The Country concentrates on producing what they are good at and export the surplus. Import … [Continue reading] about Comparative Advantage trade theory
Understanding Global Value Chains (GVCs)
Understand the importance and characteristics of global production chains. Understand the political, economic, ethical and social issues raised by the existence of global production chains. Understand the nature of employment and labor rights in … [Continue reading] about Understanding Global Value Chains (GVCs)
Organizational Structure: Types and Importance
An organizational structure is a system set in place, by which work flows within a firm, that helps the firm achieve its goals. Organizational Structure: Types and Importance Here, we take a look at the importance of organisational structure in terms … [Continue reading] about Organizational Structure: Types and Importance
International (Global) Trade: Basics
International (Global) Trade Basics. Understand free trade, reasons for protectionism and trade restrictions, role of GATT and WTO in promoting free trade on a global scale, regional economic integration and trade agreements. International trade … [Continue reading] about International (Global) Trade: Basics
Globalization: Concepts and resource guide
Globalization refers to the increasing integration of economies around the world, particularly through trade and business. This resource guide helps understand globalization and key related concepts. Globalization is providing us with new realities … [Continue reading] about Globalization: Concepts and resource guide
Trade Protectionism: Impact of Tariffs and Trade Barriers on International Trade
There are benefits to free trade, but some parties could lose out as well; that is why governments may feel the need to interfere and regulate certain aspects of the trade. Let's understand why governments control trade and identify methods … [Continue reading] about Trade Protectionism: Impact of Tariffs and Trade Barriers on International Trade
Equity theory of Motivation – Adams (1965) (Process Theory)
As per the equity theory of motivation, when people see fairness and justice around them, they are motivated, and if they see unfairness and injustice around them, they become demotivated. This is how human beings really feel when it comes to … [Continue reading] about Equity theory of Motivation – Adams (1965) (Process Theory)
What trade risks and financial risks does a multinational company face?
With increased globalization, many companies see the benefits of engaging in international trade; there's opportunity to earn more revenue and to place your products and services in front of a wider audience. However, a business should also weigh in … [Continue reading] about What trade risks and financial risks does a multinational company face?
GE-McKinsey Matrix / Directional Policy Matrix
The GE-McKinsey (9-box) Matrix (aka Directional Policy Matrix) is a tool that enables a firm to understand which are its strong products/segments, where it has a strong competitive position so that it can focus better on those areas. This tool … [Continue reading] about GE-McKinsey Matrix / Directional Policy Matrix
Various Theories of International Trade
Understand the various theories of trade that explain why countries should trade, understand the factors affecting countries’ trade patterns, and understand how global efficiency is increased through free trade. What Trade theory is important? Trade … [Continue reading] about Various Theories of International Trade
Walmart: Various Strategies
Here are various strategies adopted by Walmart over the years that has helped the company become a retail giant. Pricing Strategy The pricing strategy of “Everyday Low Prices” has been at the core of the business model of Walmart. This strategy is … [Continue reading] about Walmart: Various Strategies
New Product Development (NPD): Various Models
New Product Development (NPD) refers to the process or steps needed to produce a new product and introduce it in the market. In order to improve customer satisfaction and to increase market share, firms use strategies such as regularly introducing … [Continue reading] about New Product Development (NPD): Various Models
Operations Management and Operations Strategy
Operations Management is everywhere around us. The concept of operations management applies to every business activities (manufacturing of products or rendering of services) that involves or requires a sequential process. Operations management is … [Continue reading] about Operations Management and Operations Strategy
Toilet paper shortage: Lessons in supply chain
Toilet paper shortage was a strange side-effect of the Covid19 pandemic. As lockdown was enforced in the US, people resorted to panic buying of toilet paper rolls resulting in several shortage on toilet rolls in leading retail stores. Here are … [Continue reading] about Toilet paper shortage: Lessons in supply chain
Logistics Management: Core concepts
Logistics management, a component of supply chain management, is the process of efficiently transporting goods from the starting point to the destination. It involves steps such as acquisition, storage and transportation of inventory. Here we will … [Continue reading] about Logistics Management: Core concepts
Ethical Issues in Photojournalism/Photography
Aaron Quinn raises the ethical issue of manipulating images in Photojournalism, through the use of computers, high-end camera gear and imaging editing software, as most readers feel that the images they see in newspapers and media is manipulated by … [Continue reading] about Ethical Issues in Photojournalism/Photography
Ethical Issues with respect to Technology
Ethics is a branch of philosophy that studies morality, and Ethics in technology addresses ethical questions specific to the Technology Age. Professional ethics falls under the sub discipline of applied ethics as its purpose is to reason about, and … [Continue reading] about Ethical Issues with respect to Technology
Kohlberg and Gilligan theory of moral development: Differences
Key issues in the ‘Kohlberg–Gilligan conflict’ and reasons why Gilligan criticized Kohlberg. Kohlberg’s research is based on the cognitive development theory in psychology adopting a functional perspective on ethical behaviour which assumes … [Continue reading] about Kohlberg and Gilligan theory of moral development: Differences